- March 13, 2020
- Posted by: lutherpendragon
- Category: Insurance news

week commencing 08/03/20:
Against an unremittingly bleak backdrop of menacing pandemic, Italian lock down and epic rainfall, new chancellor Rishi Sunak was a breath of fresh air in what has to be the bounciest Budget speech of recent times. So, in the spirit of Sunak – let’s get this week done!
Aon to acquire Willis
An Aon Willis merger on pro forma numbers would create a business with annual revenues over $20bn – outstripping nearest rival Marsh by over 20%. [Insider] Analysts are already querying targeted savings.
[Insurance Day]
BMS ramps up M&A offering
BMS has announced its expansion into M&A with a number of new divisional director hires. [The Insurer]
Pandemic prep
Hiscox chair cites PPL as critical to business continuity The Insider . The Corporation has announced the development of ‘emergency trading protocols’ to keep the market open should access to the Lloyd’s building become restricted [Reactions]. Meanwhile, a portion of the World Bank cat bond edges closer to paying out
[The Insurer] and WTW reports that actuarial modelling of Covid 19 is ‘tricky’
[Asia Insurance Review]
New York channels Churchill
In the spirit of Churchill’s famous dictum KBO, New York State governor Andrew Cuomo recently announced that insurers in the state will offer ‘cancel-for-any-reason’ (CFAR) travel policies.
[Asia Insurance Review]
Partner Re under pressure
Following EXOR’s announcement that it’s selling the company to Covéa [Luther], AM Best has put its Partner Re rating on watch.
[Reactions]
Howden exits trade credit
Broking firm Howden is to exit trade credit with the sale of its UK team to Xenia Broking Group. [Reactions]
AIG embraces the hub
As part of its ongoing drive to remediate underwriting performance, AIG is restructuring its global specialty business within a “hub model” which has London at its core from 1 May. [Insurance Insider]
Climate change denial puts Australia at increased risk
In a new report, the Climate Council lobby group said Australian governments ignored warnings from scientists for at least a decade about an impending bushfire disaster and warned of worse to come if action is not taken. [Bloomberg]
Just in time communication
BDO won top Budget honours this week with a neat infographic and a pithy opinion which hit Luther Towers’ inbox just an hour after the Chancellor sat down. Be more BDO. [BDO]
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